Cosmo Oil News

 

Aker BP Makes Minor Oil and Gas Discovery in Norwegian Sea

Nov 12, 2020

Norwegian oil and company Aker BP has made a minor oil and gas discovery in the Norwegian Sea.According to the Norwegian Petroleum Directorate, Aker BP ASA, as the operator of the production licence 127 C, has concluded the drilling of wildcat well 6607/12-4 and appraisal well 6607/12-4 A…

Lukoil Launches Phase Two at Caspian Sea Oil Field

Oct 09, 2020

Russian oil company Lukoil has launched the second phase of the development drilling campaign at the Vladimir Filanovsky field in the Caspian Sea.The drilling at the Offshore Ice-Resistant Fixed Complex 2 (OIRFC 2) at the large Caspian Sea oil…

Australia: Hibiscus Enters Gippsland Basin Block

Oct 09, 2020

Malaysian oil and gas company has Hibiscus Petroleum has completed the acquisition from 3D Oil of a 50% interest in an oil and gas exploration permit in the prolific Gippsland Basin, off Victoria, AustraliaThe completion of the acquisition of…

Oil Industry Paints Grimmer Picture of Pandemic's Harm to Demand

Sep 15, 2020

Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic's ongoing assault on the global economy.The novel coronavirus hammered fuel demand in the spring, causing consumption…

Twitter Oil and Gas Talks Surge 100%, GlobalData Finds

Jun 08, 2020

The COVID-19 crisis has affected a wide range of businesses, but its impact on the oil and gas industry is particularly severe due to restrictions on travel as well as other broader economic activities, causing a heavy blow to the global oil demand…

Petrobras Makes Two Pre-Salt Oil Discoveries

May 12, 2020

Brazilian oil firm Petrobras has said it has made oil discoveries in the pre-salt areas of the Santos and Campos Basins offshore Brazil.Petrobras said Monday it had discovered oil of excellent quality in the southeast area of the Búzios field in the Santos Basin pre-salt…

MHI Vestas Wind Turbines for Yurihonjo Offshore Wind Farm

Apr 09, 2020

Offshore wind turbine supplier MHI Vestas has won an order to deliver wind turbines for a wind farm project offshore of Yurihonjo city in Akita Prefecture, Japan.The contract was announced Thursday by Renova, a partner in Akita Yurihonjo Offshore Wind GK (AYOW)…

Norway May Cut Oil Output if Other Big Producers Agree Deal

Apr 05, 2020

Western Europe's largest oil and gas producer Norway said on Saturday it would consider cutting its oil production if a global deal to curb supply is agreed by the world's biggest producers.OPEC and its allies are working on a deal for an oil…

Petrobras Strikes Pre-Salt Oil Find

Apr 03, 2020

Brazil's state-controlled oil company Petrobras has made an oil discovery in deep waters offshore Brazil.Petrobras said Thursday it had discovered the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt…

Gazprom Neft to Boost Arctic Oil Production

Mar 24, 2020

Gazprom Neft, the oil arm of Russian gas giant Gazprom, plans to raise oil production at its Arctic projects this year, the company said on Tuesday.It said its oil production at the Novy Port project will rise to 8 million tonnes (160,000 barrels per day) in 2020 from 7…

Premier Oil Sees at Least $100M in Capex Cuts

Mar 13, 2020

UK oil producer Premier Oil on Friday said it had identified at least $100 million in potential savings on its 2020 capital spending plans as it and other rivals scramble to adjust to the plunge in global crude prices.Oil prices were set for their worst weekly drop since the 2008 financial crisis…

Marubeni Secures Loan for Offshore Wind Farms in Japan

Feb 03, 2020

Marubeni Corp and its partners have signed a project finance agreement with banks to build and operate offshore wind farms in northern Japan, the Japanese trading house said on Monday. Marubeni said the 100 billion yen ($921 million) plan to…

FAR Inks Sangomar Oil Offtake Deal with Glencore

Jan 22, 2020

Australian oil company FAR Ltd. has signed a deal with Glencore, one of the world's largest oil marketers, for the full allocation of Far's share of the future oil production from the Sangomar field offshore Senegal.FAR, which owns a 15% stake in the recently sanctioned…

Tullow Oil Shares Sink

Nov 13, 2019

Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%.Commenting for…

Russian Oil Output Down in October

Nov 03, 2019

Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries…

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